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to jump-start the economy, not just the stock market. let's go to nicole petallides at new york stock exchange. david: let's start, nicole. we start with fedex it was an extraordinary run-up. it was in the $100 range. it pulls back quite a bit. this is the biggest pullback since 2011? >> certainly is, the biggest pull back since 2011. concerns globally and also going to cut down what they're shipping over it asia. lauren: how is oracle looking ahead of their earnings release, nicole? >> we're watching oracle closely in the tax realm. we'll see whether or not they have earnings. [closing bell rings] david: best buy up another 5%. that stock can not be denied. as you her the bells are ringing on wall street. looks like the indexes are going to keep essentially where they were before and after ben bernanke began to talk. looked like they were sliding a bit. they stopped that slide. trading this the 50 to 60-point range on the dow. the s&p is doing better percentagewise. nasdaq is doing well. russell 2000, small and mid-sized caps doing well. there are interesting company stories and sect
a negative impact on the national economy and perhaps even the world economy and d think that is the facts are these institutions have become too large. gerri: the administration disagrees with you. but i have to ask you, senator, are the banks simply too big, the major ones, five or six that do business with so many americans in this country. >> doesn't that bring up a whole other issue of if they're too big you can't govern them, you can't punish them, you can't discipline them, maybe that is an issue we have to deal with but that is not the immediate concern. the immediate concern is number one they said they relied on experts. senator brown and i want to know who these expes are. they want to know the judgment bas for which you can't ggt them for criminal activity, but the other things, is it a crime you can be a ceo of a company as opposed to a customer in the bank and violate the law and can't be punished for it. you get to big to jail in that instance. gerri: what the attorney general is saying is moving to a jail would jeopardize the financial syssem and i think everybody has in th
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
times the size of its economy without having some kind of bail structure in a solution, it becomes very difficult. and i think that understanding is quite clear among investors. so from a longer term perspective, i think there's a positive element here which is a more substantial bailin in this solution. >> valentin, what kind of exposure do you have in europe at this point and what changes have you made in regard to how the cypriot levy is handled? >> it is creating a bit of uncertainty. clearly, it comes from lingering uncertainty over the political situation in italy. so all in all, it makes the bit more cautious on europe. not so much on our overall willingness to take risks. we're still overweight global real estate, but we have still put down our exposure in europe, so we are now under weight european equities. we are cautious on peripheral bull markets and european fixed income space. so that is the main changes. still on the regional allocation that we have, but not so much altering our overall willingness to look for risk. i think in general, the broadening of the global cycle
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
the day. from the economy to earnings now. we get a number of interesting quarterly reports due today as well. before the bell, we'll hear from fedex, general mills and lennar and this afternoon we have oracle. a lot to chew on for the markets. s&p by the way coming off its first three-day decline of 2013. take a look at u.s. equity futures at this hour. green arrows across the board. and then of course there's cyprus. the country's leaders are holding crisis talks today trying it avert a financial meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignan
and the austerity he is putting in place has caused the economy to be really slow. >> a lot of tax increases over there in europe. we look at this austerity bit. i want to talk about this for a second. >> i want to get back to the budget then. >> talk about what is happening in washington. you know, economics discussed on tv or on the internet or on twitter, it's so depressing, because people really don't know what they are talking about and they just sort of boil it down and there is this belief through the years, that tax cuts are not a tool used. of course, tax cuts are a tool used and tax increases something that traditional are against in bad times. we hear about austerity across great britain and we never hear about the tax increases. when you talk about the fact they cut and slash spending at the same time they hike taxes, it really was a formula made to fail. >> spending cuts and tax increases both take money out of the economy and slow the economy and, yes, they create this idea of austerity. but, look. it's a balancing problem. on the one hand you need to deal with it budgets and defici
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
to ground in congress on handling the economy. we're in the middle of another budget mess and this time the president is not winning the battle handsdown. today we get the democrats trillion dollar tax hike plan and wait for it, stocks will be up again. okay retail sales, yes, stocks up again. here we go. "varney & company" is about to begin. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. weike this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades whenou open an account. neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from th
at this 14,500, in that range, the economy is in better shape arguably and back then. why can't we be happy about this? >> well, we should be. our report showed this. the levels we are looking at right now, economic indicators, valuations, monetary sentiment, etc., really the only thing that looks out of mind is how far the index it is from the 50 and 200 day moving averages. dennis: where, generally, speaking in stocks, would you put money now and is it basically a bet that we keep moving higher or a bat to protect yourself from moving lower? >> leaning towards we just celebrated our fourth birthday and five of the six bull markets since world war ii that did so went on to celebrate their fifth birthday. number four was on march 9, number five will be a year from now. it is the cyclical factors that tend to lead the way. dennis: that what all kind of messed together. thank you so much for being with us. sam stovall. >> my pleasure. melissa: just a month after carnival cruise ship was stranded at the. another one is stranded. carnivals dream was wrapping up its trip when the emergency diese
is a big concern. china is a big concern. they said china's economy is showing symptoms that sparked the crisis in 2008, the warning and saying they risk financial crisis. obviously, concerns about china. i'm going to stick to the cypress theme and put it together. the vix, fear index popped. you see the 1275 right now, up 17%. at one point, up 13%. right now, let's look at the financials because they certainly reacted. in some cases, dramatically, and the idea of them taxing deposits there. citigroup down 2% and banks abroad hit harder. back to you. >> a full and complete report, thank you, nicole. >> for the bailout proposal, is the tax on bank deposits, and that is sparking outrage and fear that there's going to be a run on the banks there. david, chairman and chief investment officer of dumb beer land as visiers of -- cumberland, and why do you think it's a big deal, david? >> caller: well, the finance ministers, the decision has been announced. the cat is out of the bag. once you open the door to taxing a deposit when you have a liquidity crisis, you can never close the door aga
to do it this way, as for 2014, i thi it depends on the circumstances in the economy. if there is more obama fatigue. lou: can i say, watching the republican party with all prevail -- tre veil, i think that everyone better give up on idea of doing anything with the democrats and letting the economy doing the intellectual heavy lifting for the republican party, they better get ready to go. because, this is not going to be a default election, just as 2012 was. i have to -- i hate to do it, but we have to right there. anyway, thank yo thank you very, that is it for us, we hope you will be us tomorrow, congressman frank wolf of join us. on what is going on in the obama justice department, from new york. york. >> you know every liberal's dream that government seizing your money out right, there is nothing you can do about it. now no cyprus they could find out the hard way, this tiny island nation sent a tsunami shockwave to the rest of the world, keeping the banks closed until they find a more palatable way to. welcome i am neil cavuto, you got 10 grand in a bank account. how about waking
. and look where we are going. today our national debt is bigger than our entire economy. unless we change course, we will add another $9 trillion over the next 10 years to our national debt. that debt will weigh down our country and our economy like an anchor. at some point lenders will lose confidence in us. they will demand higher interest rates. when they do interest rates across the country will skyrocket on credit cards, mortgages, car loans, families. as interest rates rise, debt payments will overwhelm all other items in the budget. and the debt will overwhelm the economy. our finances will collapse. the safety net will unravel. the most vulnerable, that's who suffers the most under a debt crisis. a debt crisis would be the most predictable disaster in our history. i looked back at 2008 like it was yesterday sometimes. i remember seeing all that was hatching in front of our eyes. i remember panicked meetings with the federal reserve chairman and treasury secretary, and looking back we can see what happened, but at the moment it was a crisis that hit us by surprise. look what happen
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk this morning. the dow has reached a ninth straight up session. is the market due for a correction? we've been talking about that for a long time. let's start that discussion. we have a couple of people joining us. gene peroni, senior vice president and portfolio manager at advisers asset management. we have joe kinehan. and on set, david pearson, senior vice president and chief economist at nationwide insurance. do we think a correction is coming? >> you know, there are corrections all the time. as long as the fed keeps monetary policy with pedal to the metal expansion and the economy is growing, then the trend in the stock market should be up. >> i'm going to go to santoli. do you think a correction is coming? >> i thought the ingredients we
. and stay the course. that's the message from the fed chairman ben bernanke today. he says our economy is improving but it still needs help. so the fed will keep interest rates at record low levels and will keep buying $85 billion in bonds each month. stocks like that, the dow up 56 points. briefly hitting a new record. the nasdaq up 25. the s&p up 10. of course, investors the world over are still watching the tiny island nation of cyprus as it nears possible bankruptcy. banks there are closed for the rest of the week now. and lawmakers are working on a plan b after parliament rejected a proposal to tax people's savings accounts. the fox business network peter barnes is live in the newsroom in washington. how concerned is the fed about cyprus? >> well, shep, he said the feted is paying attention to it, monitoring cyprus carefully. he said that so far its problems don't appear to be spreading to the u.s. or other countries. and that's the big concern here that this could become a contagion and trigger another financial crisis. but, bernanke suggested cyprus is unique, that its banking s
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
crude prices can tell us about the broader economy. stick around. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> good morning. welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures at this hour after giving back about 62, well off the lows yesterday. indicated that a bounce a little, but a time can happen between thou and 9:30 on the east coast. there's energy, you see crude
is -- we've got two crisises going on. one we are in a job crisis, a slow economy, and how do you address that, austerity and cuts, spending cuts, and raising taxes, and the republicans are right about that raising taxes slows the economy, cutting spending close the economy. we are trying to deal with both of those crisis at the same time. we've got to 3.5 trillion in revenue increases and spending cuts while the economy has continued to sort of grind slowly. i think what we're looking at now, what we're hoping i think, everybody hopes both side can come together on it, again, how do we get to the 4 trillion that bowles-simpson recommended without killing the economy? and i think that's why you get both these sets of facts that are true. both side are actually right about this. now the question is -- and we've avoided killing the economy by trying to address it. jon: everybody a grows that the long-term driver of the problem are the programs like medicaid, social security. so this president doesn't have to run again. why not do something bold and tell americans, you know, if you're under
the past seven weeks. 46 disapprove. numbers worse when it comes to the handling of the economy. 44% back the president. 52% do not. dan lothian joins us from the white house. so the polls certainly can't help the president's cause, especially without republicans. >> it certainly shows there is a lot of frustration out there, a lot of concern for americans when it comes to the president dealing with debt and deficit. we expect republica will shine a big spotlight on that raising some of the same concerns and criticisms and you you heard some of that yesterday from representative paul ryan, the chairman of the house budget committee as he was rolling out his own budget that seeks to balance the budget over the next decade by doing away with a locality of health care reform, by streamlining the federal tax code. but president obama in an interview with abc news, says when it comes to the timeline, it's not what he has in mind. >> my goal is not to chase a balanced budget just for the sake of balance. my goal is how do we grow the economy, put people back to work, and if we do that, we're go
capital economy will flea to lower tax states. >> we have the right to change the rules op you after the fact, and that's what's nos fair. >> some in sacramento are trying to unwind this. california's not cypress, it's not taking, but to many, it is clearly unfair. >> no, it is. it is so unfair. i mean, changing the rules after the fact is crazy. william thank you for the report. >> you bet. >> well, in the mean time, a huge win if you're one who likes to resell things from ebay to yard sales, and itch ed -- rich edson in washington. rich? >> e bay and overstock.com love the decision. publishers, not so much. the supreme court questioned whether a student could buy cheaper, foreign made and sold textbooks and resell them in the united states for profit. copyrights permits sales only overseas, but the courts said no. once americans buy an item, they buy and resell it of the the other decision could have made it difficult to resell foreign items in the u.s.. libraries say the decision is a landmark win for consumers, small businesses, online marketplaces, retailers, and libraries natio
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. if the economy hobbles along and don't get me wrong, the markets are roaring, we've had a few days where it has slowed just a bit. but the average american, the pedestrian middle class family how well are they doing? how confident are they? and if the economy slows for them, the prospects for immigration reform, i don't believe are nearly as high, if you don't get what mark has been saying now for over two weeks. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in th
the economy moving and get jobs back and i spent hours this week in a budget committee and will be going back soon and the budget is on the floor next week, and those will continue to be the issues i put my primary focus on. >> what do you say to a gay constituent in ohio who says i am so glad he changed his position, and why didn't he as my representative care about my rights before? >> i would say that i had a change on heart based on a personal experience, and that's certainly true. dick cheney had a similar experience and i talked to him about this, and it was not an issue i gave much thought to, and maybe i should have, and i got into public service because of my concern on the economic and budget issues and that has always been my focus. >> and the very last question i will ask was going to be about dick cheney. did you call him for advice because he had a situation very similar? >> yeah, i spoke to him penally. >> what did he tell you? >> rob, do what is in your heart, you know. i mean, he was -- he was a good person to talk to because he also was surprised by the news, and in that cas
like now vicious cuts were going to destroy america's economy and all of the things they are predicting now they predicted back in 1995. they were wrong then and they are wrong now. >> as kelly just mentioned senate democrats unveiled their plan for the budget. patty murray greeted the president over lunch on tuesday. it calls for raising tax revenue by 1 trillion and slashing spending by 175 million. >> harold is smiling. >> stop shaking your head. what is up? how would you like to be a democrat going back to the people of tennessee i raised your taxes a trillion dollars? >> how are they doing it? >> i shake my head. if you're a pedestrian and watching this, this is willie's question. this is where we were six months ago, three months ago. i have great respect for senator murray and i believe she believes in their budget but they have to come together because i'm not sure shs any different. paul ryan's too. how do you examine to abolish after you had an election? >> these are political documents. paul ryan's document is a political document more than an economic document, telling ameri
sanctions ever. it's having a significant effect. >> on the economy? >> there is the president of the united states saying it could take a year for iran to develop a nuclear weapon. let's discuss what is going on. that's the first time i heard the president give such a specific timeline, within a year or so iran could have a nuclear weapon. that sounds pretty ominous. >> it does sound ominous. what it shows you is what a difficult diplomatic challenge the president has. because they're negotiating with iran through the six-party talks which are taking place in kazakhstan and there the united states has made some offers that are, you know, trying to help iran move to a kind of win-win place. now he is managing the other dimension of this which is israel. he is trying to convince the israelis that he is serious, that he sees that there is not an infinite amount of time, and he said later in the interview all options are on the table. when i say all options i mean military force and we have substantial capabilities. so he's trying to manage the iranian clock as well as the israeli clock. >> so
♪to your doctor. (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. >>> president obama had a busy day. wasn't just wooing republicans. he met with the sultan of brunei. and during the meeting, the >>> president obama had a busy day. wasn't just wooing republicans. he met with the sultan of brunei. and during the meeting, the president said this. >> tomorrow, he's going to have a day to take his family to new york. we're going to encourage him to do some shopping because we want to continue to strengthen the u.s. economy. >> you thought that was a joke, right? no. 24. that's the number of umbrellas the sultan of brunei purchased during his last visit to new york city. in 2010, on a
politics a long time and the kind of performance in the recent years with the economy. everybody is frustrated. that is the good news scenario. the bad news scenario we literally fix it and we relive 2008. >> can i ask a question as conservatives especially focus on the issue of deficit and what we are going to do about it and it becomes a rallying cry. where was that rhetoric when we were involved in two wars and paying for them on a credit card and having two major tax cuts put in place? iraq war is one of the first wars we haven't had a war tax. where was that fiscal responsibility a decade ago? >> missing. and i'm the wrong person to ask this. because i said famously in budget circles. it's a big crowd. in three the party is over, people get it and not spend any more money and ten years later, i was dead wrong. we lost our rudder somewhere. that's something that america actually stuck to and lived by and served america well 200 years. since then we have developed big problems. >> i also illusion the war would pay for itself and be resolved within six months and up and running
the economy going, get jobs back, and i spent hours this week in the budget committee. i'll be going back soon. the budget is on the floor next week. and those will continue to be the issues that i'll put my primary focus on. >> reporter: what do you say to a gay constituent in ohio who says, i'm so glad he changed his position but why did it take him learning that he has a gay son? why didn't he as my representative care about my rights before that? >> well, i would say that, you know, i've had a change of heart based upon a personal experience. that is certainly true. dick cheney i think had a similar experience. i've talked to him, by the way, about this. you know, it wasn't an issue i had given much thought to prior to that. maybe i should have but the reason i got into public service was because of my concern on the economic and budget issues. that's always been my focus. >> reporter: you just walked into the very last question i promise i will ask which was going to be about dick cheney. you said you did talk to him. did you call him for advice because he had a situation very similar? >>
of the economy more than most and was gratified proctor cooled yesterday, k kimberley cooled. >> there is the sentiment, some anxiety things have been quiet, almost tranquil in a way. >> it's a western? the man who shot liberty prokt sfer. >> invariably something always comes. i don't know whether it will be. geopolitical as we worry or wonder or watch things in iran or north korea. i know. i'm just -- >> 1996. it was pretty darn good for a while. wasn't until the asian contagion, nine months later. >> then we got long term capital, then the fed lowered rates by 50 basis rates. off to the races like never before, ever. that being said, this is 20 13. not 1996. >> we're doing stress testing on banks like we weren't doing back then. we'll get more results tonight. >> we don't have the internet just beginning to blossom. >> no, but we do have situations where -- i'm reading about the elephant in the room which is the galaxy. suddenly they've got a keyboard -- i've been trying to get that keyboard. it does not get me wrong every single time. it remembers what i've got, what i wan
a balanced budget just for the sake of balance. my goal is to how do we grow the economy, put people back to work, and if we do that, we'll bring in more revenue, if we control spending and we got a smart entitlement package, what you have is balance, but it's not balance on the backs of the poor or elderly or students who need student loans or families with disabled kids. not the right way to balance the budget. >> tom price is the republican from georgia. vice chair of the budget committee. nice to see you, sir. they call it a charm offensive. and the national journal quoted a white house who said this. this is a joke, waiting the president's time in hours. i hope are you all in the media happy because we are doing it for you. the white house official is not speaking accurately. do you think it's a waste of time. the charm offensive is actually kind of disjen white houingenuo? >> there has to be trust on both sides. we will welcome the president to the capitol today, we look forward to what he has to say. this has to be more than one step this is the first step in a long process of gett
. >> these cuts are not smart, they are not fair, they will hurt our economy and add hundreds of americans to the unemployment roles. >> let's start out with the charm offensive taking with them over lunch. >> who are the middle class americans, some are families with children with autism and down syndrome, these are americans we'd be telling to fend for themselves. >> the president reaching out and having phone conversations and encounters with lawmakers of both parts. >> congress allows this meat cleaver approach to take place. the federal prosecutors will have to close cases and let criminals go. >> you know, the president, the big talk around washington is this so-called charm offensive, he has dinner with these republican legislators. >> you don't want to have to choose let's see do i close funding for the disabled kid or the poor kid? >> all right. so much for so-called bipartisanship. joining me now live with his reaction, he's in his bunker, mark levin. we have a nobel prize winning president, the anointed one i call him. were you surprised that barack obama the first was not elect
, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with the geico mobile app. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. [ male announcer ] from the way the bristles move to the way they clean, once you try an oral-b deep sweep power brush, you'll never go back to a regular manual brush. its three cleaning zones with dynamic power bristles reach between teeth with more brush movements to remove up to 100% more plaque than a regular manual brus
cities. siemens. answers. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. ♪ it was the best day ♪ ♪ it was the best day yeah! ♪ it was the best day ♪ because of you [sigh] [echoing] we make a great pair. huh? progressive and the great outdoors -- we make a great pair. right, totally, uh... that's what i was thinking. covering the things that make the outdoors great. now, that's progressive. call or click today. ...and we inspected his brakes for free. -free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke. >>> bottom of the hour, welcome back everyone. i'm susan hendricks in for randi kaye. thank you for starting your morning with us. here are the five stories we're watching for you. number one the pentagon is expanding the missile defense network on the west coast in response to threats from north korea. defense secretary chuck hagel says they could spend as much as $1 billion on the expansion. reports say north korea test fired two short range missiles thi
over the past three years over an economy that's produced over 6.3 million private sector jobs and we have more work to do. and this president's number one priority is growth and job creation. >> what a bunch of-- there's 20 million more americans on food stamps, number one. and number two, we have one in six americans in poverty. what would dr. carson do if he was president. would you cut back? >> well, i would certainly cut back, but the pay i would cut is evenly, but i would give the managers of each department discretion because they know where the fat is. they're not going to cut the muscle, they're going to cut the fat. it seems like what the president is doing is trying to cut in the places where it hurts the most in order to prove a point and i -- if ever the mainstream media reaches a point where they recognize that if we destroy this nation and destroy the economy, they, too, will be destroyed, i think at that point they will start asking the tough questions and helping to move the population in the right direction. >> sean: don't hold your breath, dr. carson. i declared in
. the longest winning streak since 1992. a lot of this is due to signs of an improving economy. yesterday we got a report showing weekly jobless claims fell, and this isn't just the dow. the s&p 500, a much broader index with 500 different stocks instead of 30 in the dow is within two points of its record high. and of course, the fed keeps pumping money into the economy every single month. $85 billion worth of money so there are all of these things lined up to push the dow higher. because of the rally there are a lot more millionaires in this country right now. spectrum group says nearly 400,000 new millionaires were mentioned last year. tally them up and there are 8.9 households with net worth over $1 million. so what's the secret? how did they get there? well, spectrum says these are people who buy stocks, they stayed in the market during the recession when less wealthy investors, people quite frankly in financial turmoil, had to bail out. and remember, warren buffett always says be greedy when ears are fearful and fearful when others are greedy. clearly 400,000 new millionaires minted in the
of the economy. the senate democratic budget recognizes none of this. partisan and in setone and complacent in substance it scores points against the republicans and re'assures the party's liberal base. in short this document gives voters no reason to -- >> with us from washington is david growing of "meet the press." that was. "the washington post" saying tough things about the democratic budget but let's commend. i'm commending democrats today and i -- let's commend the democrats for putting out a budget. because this is where we start the conversation and the conversation starts with two budgets that are both dead on arrival. but it's at least a starting point. >> i do think this return to regular order which speaker boehner has talked a lot about makes sense here. we have now seen, what, the last couple of years where republican leaders are really -- john boehner and negotiating directly with president obama is not working so why not let congress do its job and come up with competing visions of america's fiscal future and let them try to hash that out without the white house always bein
driving the economy into bad places and the fact that the voting public is going to look vastly different than the cpac attendees do. cenk: that's a great point. let's show the rand paul part of the speech that you mentioned earlier where -- and i'm curious how well this was received. this was one of the very few moments where they actually talked about doing something new. >> ask the facebook generation whether we should put a kid in jail for the non-violent crime of drug use and you'll hear a resounding no! ask the facebook generation if they want to bail out two big to fail banks with their tax dollars and you'll hear a hell no. there is nothing conservative about bailing out wall street. cenk: i'm curious about that on two fronts, one how did the pot discussion go with the crowd and attendees and number two he talked about there's nothing conservative about bailing out banks except almost the entire republican party is in the pocket of the banks and i wonder if the audience realizes that disconnect. >> that was a perfect example of disconnect, because you did have something new. talki
, the american economy is the focal point of how we move forward here. >> president obama knows this. i'm just surprised he hasn't done it earlier. there were two deals here. one is each one had to alienate their own base. reagan increased taxes. o'neil cut benefits. both of them took heat. same thing with bill. clinton and newt gingrich didn't like each other much. both of them had to cut benefits, cut spending and newt gingrich agreed to raising taxes and balancing the budget. left a trillion dollar surplus in the bank. barack obama has to stand up to the base. i'm in the base. he's got to stand up and alienate us: and boehner has to do the same thing against the tea party. it won't happen unless both sides are willing to stand up. >> final question, lance armstrong in a similar way for the way they forgave bill clinton. you were part of that forgiveness process, some would argue, for bill clinton. as long as armstrong got that kind of chance, you think? >> a bit of a disclosure. i've had conversations with his attorneys. i think oprah was a good step, but not enough. he has to do much, much
. even on romney's short list for vice president. he's been a leading republican voice on the economy for four decades. >> we need to spur economic growth and create more jobs. >> reporter: now the prominent conservative from ohio will be known for something else, changing his hard-line position against gay marriage, which he revealed to cnn. and the very personal reason behind his reversal. >> i'm announcing today a change of heart. on an issue that a lot of people feel strongly about. and it has to do with gay couples' opportunity to marry. i've come to the conclusion that for me, personally, i think this is something that we should allow people to do, to get married, and to have the joy, and the stability of marriage that i've had for over 26 years. i want all three of my kids to have it, including our son who is gay. >> reporter: that unexpected revelation came from portman's 21-year-old son will two years ago. >> my son came to jane, my wife and i, told us that he was gay. and that it was not a choice. and that, you know, he -- that's just part of who he is and he's been that way
will harm, not help our economy. that's why i'm reaching out to republicans and democrats to come together around a balanced approach, a smart, phased in approach to deficit reduction, that includes smart spending cuts and entitlement reforms and new revenue and that won't hurt our middle class or slow economic growth. and if we do that, then we can move beyond governing from crisis to crisis to crisis and we keep our focus on policies that actually create jobs and grow our economy and move forward to face all the other challenges we face from fixing our broken immigration system, to educating our kids, to keeping them safe from gun violence. and few pieces of business are more important for us than getting our energy future right. so here at argon, and other labs around the country, scientists are working on getting us where we need to get ten years from now, 20 years from now. today, what most americans feel first when it comes to energy prices or energy issues are prices that they pay at the pump. and over the past few weeks, we saw, we went through another spike in gas prices, people a
spending $85 billion a month to stimulate the economy. he's putting money into the system, which is helping the stock market. and he's keeping interest rates low until the unemployment rate gets to 6.5%. a lot of folks are looking at this particular mix of factors and saying, the stock market could go -- excuse me. could go higher here. i'm speechless. >> i had to admit, i had no idea where you were going with "fargo." when you brought it together there. i like many men, are obsessed with the phone wars going on now. there's a huge announcement today. >> the samsung galaxy s-4 is released today. this is a food fight for the smartphone world. a lot of people are saying, if samsung could get some cool in this phone, the android market is huge. samsung and apple have been fighting over their share of this market. and look at the advertising of these companies, by the way. and you can see that samsung are 4 billion in estimated annual advertising. look at how that compared all of the other, like big names that you know. they're spending a lot of money to be sure you know their phones are cool.
because we want to continue to strengthen the u.s. economy. >> you thought that was a joke, right? no. 24. that's the number of umbrellas the sultan of brunei purchased during his last visit to new york city. in 2010, on a whim, the sultan spent more than $500 on novelty umbrellas and over $20,000 on lizard skin handbags. but that was nothing to him. because the sultan spends a lot more than that here in new york. he's worth more than $20 billion. he owns a fleet of more than 5,000 luxury cars and his own 747, which he actually flew himself to the united states. >>> now, his family includes 12 children by three wives. lives in a 1,788-room palace. they also have homes in london, los angeles, new york, and paris. it is a lifestyle that many of us will never experience, to state the obvious. he spent time in the harem, she saw firsthand how they lived. in december 2011, she came "outfront." >> when i went to this supposed audition or casting, it was supposedly to go and entertain rich businessmen in singapore for what at that time was a tremendous amount of money. for me. $20,000. which was
future, at least until the economy dramatically were to shift and there would be economic growth, 4%, 5%, 6% a year as opposed to the anemic growth right now. it doesn't look good. my own sense is it doesn't hurt to do this charm offensive, certainly doesn't hurt to engage in a discussion, and maybe, when all the dust settles, they can come up with some sort of compromise. they've got until really the end of july, early august. that's when the nation's debt ceiling has to be raised once again and if they don't do it by then, america's crededy worthiness could be endangered once again, a reduction in america's credit rating. there's a lot to discuss. >> you are a hopeful, hopeful man, wolf blitzer. charm is always a good thing. we will see how far charm takes the president with the ideas so die metically opposed. you can join wolf this afternoon as we go inside the tsa's secret store room, on "the situation room" today at 4:00 eastern time. >>> she, of course, came into our lives as a strong and independent rhoda on "the mary tyler moore show." valerie harper is showing us how to face th
in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses it's not what you think. it's a phoenix with 4 wheels. it's a hawk with night vision goggles. it's marching to the beat of a different drum. and where beauty meets brains. it's big ideas with smaller footprints. and knowing there's always more in the world to see. it's the all-new lincoln mkz. >>> welcome back for the second half of out front. we're live tonight outside st. patrick's cathedral in new york city. people inside were praying and celebrating a new pope, pope francis. the now former archbishop of argentina. he's the first non-european pontiff of the era. he said to the world today just after 7:00 local time the crowds were packed into st. peter's square, about 150,000 p
to get our economy moving again? republicans want to balance the budget. the president doesn't. republicans want to solve our long-term debt problem. the president doesn't. we want to unlock our energy resources to put more americans back to work. the president doesn't. but having said that, today was a good start. and i hope that these kinds of discussions can continue. >> he says it's a good start. doesn't sound like such a good start to me. >> no. >> maybe he has a different definition. >> well it sounds like he is still in the middle of the campaign. i think, look. the republicans injure that room blaming the president for being too political. and john boehner is out there saying that the president doesn't want to create jobs or reduce the deficit. of course he does. they all want to do that. the question is, as dana points out earlier, how do you get there? and they there are at this moment where they all know what they have to do. it is just that each side has to be willing to get its political base angry. the president has to be willing to tell democrats that we're goi
truly reflect what is perceived to be a good or bettering economy, or is it just the fed. remember, 20 years ago on that chart that i'm showing, in '94, when the fed had its tightening cycle, that was the last time we saw 8% in the 30-year. what would stocks do today if you saw 8%? it would be, what, about $500 to $ $ 700 billion. >> the fear is when the fed does start to pull back on quantitative easing, we'll get a spike in rates and the stock market will fall, unless they come up with a way to ease this out, some kind of exit strategy. what do you sense they're going to work on? >> i'm going to shock you today and actually agree with ric santelli on something, which is i think that there's way too much attention to the fed in terms of trying to explain this rally. to me, the most interesting story of the last two or three months is how policy, whether it's monetary policy or fiscal policy here in washington, is receding, that's a big story. now, tomorrow on the cover of our magazine, "the economist," we have a story called the "the america that works." and i think the theme that com
in shape. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. an e.p.a.-estimated 34 mpg highway. amazing. see the grille? mm-hmm. let me show you how it works. it opens and closes like this to help you conserve fuel. oh. is that an s.o.s. signal? no, that's the aero grille shutters demonstration. we do it all the time. [ male announcer ] chevy. mpg ingenuity. now get this great sign & drive lease on a 2013 chevy malibu ls for around $233 a month. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertib
and feel the hamptonality. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> let's get you caught up on some of the other stories we're following. isha is here with the "360" bulletin. >>> day two of the steubenville, ohio rape trial wrapped up a little while ago. two high school football players are accused of raping a 16-year-old girl last summer. now, much of the case is focused on cell phone pictures of the alleged abuse that were circulated in text messages and on social media. >>> hundreds of volunteers and police are searching for a new orleans teacher who vanished almost two weeks ago. the 26-year-old was last seen at a bar celebrating her teacher of the year nomination. >>> anderson, another carnival cruise gone wrong. the company is flying passengers on the "dream" ship back to florida. the ship's generators failed yesterday while it was docked in the caribbean. all the lights went out. some of the toilets stopped working and no one was allowed onshore. you know folks on that ship went not again. >> unb
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